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Rounding Bottom Breakout in Vaibhav Global Ltd with Good Volume
Rounding Bottom Breakout in Vaibhav Global Ltd with Good Volume
Vaibhav Global Ltd. NSE:VAIBHAVGBL
Technical analysis summary for Vaibhav Global Ltd (VAIBHAVGBL)
Pattern Formation
• The chart clearly shows a Rounding Bottom pattern, which is a bullish reversal pattern.
• Prior to this, the stock was in a long consolidation phase between approximately ₹190 – ₹250.
• The rounding bottom indicates accumulation after a prolonged downtrend, followed by a steady recovery toward the neckline.
Breakout Confirmation
• Yesterday’s close was above the neckline (around ₹260–₹265), confirming a valid breakout.
• The breakout candle is large and bullish, accompanied by strong volume, strengthening the reliability of the breakout.
• The 9-day EMA (₹243.99) has crossed above the 21-day EMA, confirming a short-term bullish trend.
Volume Analysis
• Noticeable volume spike during the breakout day (1.68M), which is significantly higher than the average volume (≈0.47M).
• This confirms institutional participation and adds conviction to the bullish move.
Target Zone: ₹320 – ₹335
Caution / Stop-Loss
• As RSI is above 70, there might be short-term consolidation or pullback.
• A retest of the neckline (₹255–₹260) is possible before the next leg up.
• Stop-Loss: Below ₹245 (EMA & neckline support zone).
Disclaimer:
This analysis is for educational and informational purposes only and should not be considered as investment advice or a recommendation to buy or sell any securities. Please consult your financial advisor before making any trading or investment decisions.
source https://www.tradingview.com/chart/VAIBHAVGBL/h8RGhQac-Rounding-Bottom-Breakout-in-Vaibhav-Global-Ltd-with-Good-Volume/
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